Jul 27, 2011

Fair Share? Even 100% Corp Tax Isn't Enough!!

President
Obama and the Democrats in Congress keep saying that U.S. corporations
need to “pay their fair share” in order to resolve our national debt problems.
They want more revenue a.k.a more TAXES from those evil corporations.
And that leads us to the big question: Is our national debt a spending problem or a revenue problem?

Democrats
want U.S. companies to pay their “fair share” to close the deficit gap.
Ok! Let’s give it the old Democrat try. Let’s really STICK IT to those
evil corporations and their Lear jets, tax breaks, etc. Are you ready?
Here we go!

Let’s target the biggest U.S.corporations, the ones with annual gross
revenues of over $40 billion per year. There are over 60 of these giant
corporations in the U.S. (They’re listed below, along with their 2010
profits listed in billions of dollars. )

Remember
now, we’re going to force these evil corporations to pay their “fair
share”. Let’s not beat around the Bush. Let’s go all the way. Let’s tax
their annual net profits at 100%. That’s the kind of fair share that any
Democrat would be happy with. How much would a 100% tax on the net
profit of these largest companies raise for one year? A whopping $204.8
BILLION dollars!!!

Wow,
you’re thinking! $204.8 billion dollars would not only stick it to
those corporations, but it would also would pay for everyone's health
care, plus feed the poor children, and pay for all those public employee
pensions, right? And it would solve our debt ceiling problems, too! That's the fair share President Obama is talking about, right?